Insider Selling: McKesson Co. (NYSE:MCK) CEO Sells 3,753 Shares of Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

McKesson Price Performance

NYSE MCK traded down $10.58 during trading hours on Friday, reaching $504.17. The company’s stock had a trading volume of 1,924,148 shares, compared to its average volume of 761,035. The firm has a fifty day simple moving average of $576.35 and a 200-day simple moving average of $557.33. The stock has a market cap of $65.51 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.29 and a beta of 0.44. McKesson Co. has a 52 week low of $412.64 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $7.27 EPS. On average, research analysts expect that McKesson Co. will post 32.14 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Institutional Trading of McKesson

Several large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in McKesson in the 2nd quarter valued at $12,331,000. Gordian Capital Singapore Pte Ltd acquired a new stake in McKesson in the 2nd quarter valued at $1,090,000. Centennial Bank AR acquired a new stake in McKesson in the 2nd quarter valued at $53,000. RiverFront Investment Group LLC acquired a new stake in McKesson in the 2nd quarter valued at $264,000. Finally, Clearbridge Investments LLC grew its position in McKesson by 3.3% in the 2nd quarter. Clearbridge Investments LLC now owns 350,877 shares of the company’s stock valued at $204,926,000 after purchasing an additional 11,184 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MCK shares. Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird cut their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Evercore ISI cut their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $624.93.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.